GBP/USD heads for offers

Market news

14 March 2011

GBP/USD heads for offers

Tech traders highlight the $1.6087 level as pivotal for GBP/USD. While rate can hold above seen keeping focus on the upside with potential for a test on $1.6140. Rate currently trades around $1.6123. Offers said to remain in place from this high and extending to $1.6130. Stronger offers noted from $1.6140 through to $1.6150 with stops above.

US STOCKS: Dow remains in the red by about 120 points and close to its morning low. Nasdaq is down 30.

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